Taxes, Real Property - As introduced, revises the formula for calculating tax relief on real property owned by eligible disabled veterans so that in determining the amount of relief to such a taxpayer, the assessed value on the first $175,000 of full market value is to be multiplied by the ad valorem tax rate of the jurisdiction instead of by a rate that has been adjusted to reflect the relationship between appraised value and market value in that jurisdiction. - Amends TCA Title 67, Chapter 5, Part 7.

HB 436 modifies property tax relief for eligible disabled veterans in Tennessee. It changes how tax relief is calculated by requiring that the first $175,000 of a property's full market value (used as the veteran's primary residence) be multiplied by the jurisdiction's standard property tax rate - not an adjusted rate - when determining relief. This directly affects disabled veterans who own qualifying residential property, ensuring relief is based on the actual local tax rate applied to their home. The change applies to tax years beginning July 1, 2025, and simplifies the calculation method for local governments.